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Does anyone know what the motivation for mining Monero is? Maybe I'm missing out some massive use of it, but I see Bitcoin as having been the original, Etheriu
by trothamel 4y ago
Does anyone know what the motivation for mining Monero is? Maybe I'm missing out some massive use of it, but I see Bitcoin as having been the original, Etherium for enabling things like NFTs, and Dogecoin for comedy purposes.
But I've only heard of Monero being used in scams like this, so I'm curious as to if there are legitimate uses of it that allow it to have value.
- cinntaile 4y agoIt's one of the few anonymous cryptocurrencies and that has value to quite a few people.
- mcbuilder 4y agoYou list Dogecoin for comedy purposes as a valid reason yet ignore the practical benefits of greater anonymity with Monero. I'm no coin expert, but if I were to hypothetically buy some illegal psychedelic drops off the dark webs, I'd gravitate towards Monero or a Monero-likes over Dodgecoin. There are plenty of scammy coins, but there are also ones that fill a niche.
- piperswe 4y agoIIRC it's because GPU mining Monero is a difficult problem and existing GPU miners aren't very efficient, so CPU mining Monero produces more revenue than CPU mining other coins.